🔥 MUST READ: Bitcoin & Cryptocurrency Scams to Watch out for

Benezim

full member

Activity: 420

Merit: 142

Quote from: opg777 on June 24, 2018, 08:27:51 AM

Also, be careful, sometimes some campaigns distribute coins (airdrop) and offer to download their own purse, which contains a virus that later steals your data or sells analytics to use your device to sell the data to advertisers.

This is a tough one to prevent for the average Joe. Almost all wallets trigger an anti virus alert (and they need to be manually whitelisted to enable launch), it‘s extremely difficult to see whether the wallet comes with a built in surprise.

opg777

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Merit: 12

Also, be careful, sometimes some campaigns distribute coins (airdrop) and offer to download their own purse, which contains a virus that later steals your data or sells analytics to use your device to sell the data to advertisers.

Benezim

full member

Activity: 420

Merit: 142

Education is the safest bet to not get scammed. Crypto is, after all, a complex topic.

Some scam coins/airdrops ask for private keys, if you don’t understand the difference between public / private key, you are easily relieved of your coins.

New exchanges / mining pools can also be dangerous. They may look legit and still run off with your coins.

Crypto is still Wild West. No central authority to help you out. By design. Careful out there

cryptosec.info

member

Activity: 138

Merit: 74

NotYourKeys.Org

Quote from: Derizo on May 28, 2018, 09:24:54 AM

Scamming is a major issue in the world of cryptocurrency. They are the dirty fish in the pond. My advise for people is to check the company before investing in them. Check their development team and do background research before forking out your cash.

As there's so much scam ICOs out there, right now I'd just simply suggest to NOT invest in ICOs. I'd personally just invest in the top reputable coins instead.

Derizo

newbie

Activity: 135

Merit: 0

Scamming is a major issue in the world of cryptocurrency. They are the dirty fish in the pond. My advise for people is to check the company before investing in them. Check their development team and do background research before forking out your cash.

cryptosec.info

member

Activity: 138

Merit: 74

NotYourKeys.Org

Quote from: ?? on ??

I probably will never figure it out.

You're really likely to not figure it out if you don't educate yourself.

cryptosec.info

member

Activity: 138

Merit: 74

NotYourKeys.Org

Quote from: dangnghia2112 on May 22, 2018, 11:35:20 PM

You should adding SCAM Airdrop, too. Such as: DENTACOIN, or nearly GXS. That's not meaning that coin is scam. Just someone make scam airdrop base on existing coin:
- Firstly, they collect ETH address and private informations (that's is usual as other airdrops)
- Secondly, they call for donation for airdrop, not small as gas fee, they call for big donation, may be 1, 5 Eth or more for bonuses.
- Thirdly, they cheat some chickens by call them to give wallet's private key for examining that you owning that address or not
- And more...

Though a big percentage of airdrops are scams to start with, I agree. I'll add airdrops to the list soon. Thanks for the heads up!

dangnghia2112

newbie

Activity: 8

Merit: 1

You should adding SCAM Airdrop, too. Such as: DENTACOIN, or nearly GXS. That's not meaning that coin is scam. Just someone make scam airdrop base on existing coin:
- Firstly, they collect ETH address and private informations (that's is usual as other airdrops)
- Secondly, they call for donation for airdrop, not small as gas fee, they call for big donation, may be 1, 5 Eth or more for bonuses.
- Thirdly, they cheat some chickens by call them to give wallet's private key for examining that you owning that address or not
- And more...

cryptosec.info

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Activity: 138

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NotYourKeys.Org

Edited the post to add the IMG tags. Thanks for the merits!

cryptosec.info

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Merit: 74

NotYourKeys.Org

Quote from: jseverson on May 22, 2018, 03:03:38 AM

You may also want to link this in case people don't believe that most ICOs are scams until they see actual figures lol. Perfect for that red text "a good percentage of ICOs are indeed scams":

People probably still think it's still like lastyear, where pretty much majority of the ICOs turned into a profit.

Quote from: jseverson on May 22, 2018, 03:03:38 AM

Aaand you should have enough merits to be a member for those images now! Keep up the good work!

Thanks! Now I'd have to wait til I have 60 activity Roll Eyes

l0l

jseverson

hero member

Activity: 1834

Merit: 759

You may also want to link this in case people don't believe that most ICOs are scams until they see actual figures lol. Perfect for that red text "a good percentage of ICOs are indeed scams":

https://www.investopedia.com/news/80-icos-are-scams-report/

Aaand you should have enough merits to be a member for those images now! Keep up the good work!

cryptosec.info

member

Activity: 138

Merit: 74

NotYourKeys.Org

Quote from: scout5 on May 21, 2018, 07:19:52 AM

I didn't know domains like "biṇaṇce.com" could be used. Thanks for the warning.

You're welcome. Hackers and scammers can be really really creative and innovative when making their scams convincing.

scout5

newbie

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I didn't know domains like "biṇaṇce.com" could be used. Thanks for the warning.

cryptosec.info

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Merit: 74

NotYourKeys.Org

Quote from: wiser on May 19, 2018, 11:32:27 AM

That's a great OP. It's crazy how scams can be categorized as when it comes right down to it, they're all basically the same.

On the scam ICO topic, it's important to note that many ICO projects started by sincere and honest people also fail due to lack of resources of various kinds making them unable to ultimately deliver. You have to really know some financial terms and concepts in order to properly conduct due diligence on such projects. You can find lots of information at https://dnotesedu.com/

This op-ed article contains some interesting statistics about ICOs: https://dcebrief.com/op-ed-icos-are-damaging-crypto/

True. Some projects simply don't have enough funding. Those projects are probably a minority compared to the number of scams though. Thanks for the heads up. And thanks for the merit!

Rexphyl

newbie

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Thanks for the vital info.

wiser

legendary

Activity: 1806

Merit: 1029

That's a great OP. It's crazy how scams can be categorized as when it comes right down to it, they're all basically the same.

On the scam ICO topic, it's important to note that many ICO projects started by sincere and honest people also fail due to lack of resources of various kinds making them unable to ultimately deliver. You have to really know some financial terms and concepts in order to properly conduct due diligence on such projects. You can find lots of information at https://dnotesedu.com/

This op-ed article contains some interesting statistics about ICOs: https://dcebrief.com/op-ed-icos-are-damaging-crypto/

cryptosec.info

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Activity: 138

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NotYourKeys.Org

Quote from: tigerkings on May 18, 2018, 07:29:39 PM

Quote

More will be added to the list in the future.

Hi. When are you planning on adding more to the list?

If I have time. I'm currently on a trip.

ghosterz

newbie

Activity: 1

Merit: 0

Who can help me contact admin. I have just been ripped by this vendor https://bitcointalk.org/index.php?topic=1999963.80

I believe that admins are aware of this adverts here on this site?

tigerkings

newbie

Activity: 9

Merit: 0

Quote

More will be added to the list in the future.

Hi. When are you planning on adding more to the list?

cryptosec.info

member

Activity: 138

Merit: 74

NotYourKeys.Org

Quote from: jseverson on May 18, 2018, 02:47:30 AM

I would add scam emails/PMs under phishing sites. They often come from seemingly official email accounts, say there's a problem with your account somewhere, and ask you to click a seemingly legitimate link to log in, only to direct you to a phishing site. They're not as common as the typical attacks, and often not sophisticated enough to be believable, but I thought they're still worth mentioning.

Thanks for heads up. I mentioned emails on our site but for some reason missed the copy-paste on that part.

Topic: 🔥 MUST READ: Bitcoin & Cryptocurrency Scams to Watch out for (Read 387 times)